OVERVIEW
The entire Year-End Rollover process is automated for SchoolCash Accounting. District users are presented with a list of the bank accounts and their status, Not Ready to Rollover or Ready to Rollover. Bank accounts that are ready to rollover can be rolled over individually or for all bank accounts.
The School Cash Accounting Year-End Rollover process is designed to do the following:
• Complete Year-End financial statements and reports
• Archive data for the school year
• Assign opening balances for existing categories
• List the transactions that have not cleared the bank by the date of the school year’s final reconciliation
• Carry over any new transactions, that were entered after the year end rollover date, to the new fiscal school year
The School Cash Accounting Year-End Rollover process consists of four (4) parts:
1. Year-End Rollover Checklist: District Users will be able to select the option to generate a Checklist Report (download to Excel) that will list all the schools and bank accounts that have outstanding items that would prohibit the rollover.
2. Reconcile Monthly Statement: The bank account reconciliation for the month of the Year-End Rollover will need to be completed. Recommendation: Reconcile to the actual year end rollover date
3. Year-End Rollover Automation: Users will be presented with the list of their bank accounts and their status.
4. Complete the Rollover
Please refer to the attached document for the process.